Company No: 04668556 (England and Wales)

Contents

• Company Information
• Statement of Financial Position
• Notes to the Financial Statements

DIRECTORS	S A C Hurst
	A R Jefferies

SECRETARY

S Davies

REGISTERED OFFICE	764-766 Fishponds Road
	Fishponds
	Bristol
	BS16 3UA
	United Kingdom

COMPANY NUMBER

04668556 (England and Wales)

CHARTERED ACCOUNTANTS	Bishop Fleming LLP
	10 Temple Back
	Bristol
	BS1 6FL

	Note	2022		2021
		£		£
Fixed assets
Tangible assets	3	111,260		126,354
Investments	4	100		100
		111,360		126,454
Current assets
Debtors	5	4,946,360		4,149,306
Cash at bank and in hand		341,292		57,444
		5,287,652		4,206,750
Creditors
Amounts falling due within one year	6	( 1,101,869)		( 542,118)
Net current assets		4,185,783		3,664,632
Total assets less current liabilities		4,297,143		3,791,086
Provision for liabilities		( 11,453)		( 12,233)
Net assets		4,285,690		3,778,853
Capital and reserves
Called-up share capital	7	128		128
Capital redemption reserve		72		72
Profit and loss account		4,285,490		3,778,653
Total shareholder's funds		4,285,690		3,778,853

For the financial year ending 31 March 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Keyplan Services Limited (registered number: 04668556) were approved and authorised for issue by the Board of Directors on 09 June 2022. They were signed on its behalf by:

A R Jefferies Director

S A C Hurst Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Keyplan Services Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 764-766 Fishponds Road, Fishponds, Bristol, BS16 3UA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

The functional currency of Keyplan Services Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Plant and machinery	25 % reducing balance
Vehicles	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Investments
Investments in subsidiaries are measured at cost less accumulated impairment.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2022		2021
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		3

3. Tangible assets

	Plant and machinery		Vehicles		Total
	£		£		£
Cost
At 01 April 2021	152,863		229,972		382,835
Additions	12,105		21,780		33,885
Disposals	0		( 44,734)		( 44,734)
At 31 March 2022	164,968		207,018		371,986
Accumulated depreciation
At 01 April 2021	120,039		136,442		256,481
Charge for the financial year	10,417		22,985		33,402
Disposals	0		( 29,157)		( 29,157)
At 31 March 2022	130,456		130,270		260,726
Net book value
At 31 March 2022	34,512		76,748		111,260
At 31 March 2021	32,824		93,530		126,354

4. Fixed asset investments

Investments in subsidiaries

	2022
	£
Cost
At 01 April 2021	100
At 31 March 2022	100
Carrying value at 31 March 2022	100
Carrying value at 31 March 2021	100

5. Debtors

	2022		2021
	£		£
Amounts owed by Group undertakings	4,946,360		4,149,306

Amounts owed by Group undertakings are repayable on demand and do not bear interest.

6. Creditors: amounts falling due within one year

	2022		2021
	£		£
Trade creditors	1,060		4,600
Amounts owed to Group undertakings	1,080,791		516,791
Other creditors	0		1,151
Accruals	4,460		5,399
Corporation tax	2,659		0
Other taxation and social security	12,899		14,177
	1,101,869		542,118

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

7. Called-up share capital

	2022		2021
	£		£
Allotted, called-up and fully-paid
128 Ordinary shares of £ 1.00 each	128		128

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2022		2021
	£		£
- within one year	37,500		37,500
- between one and five years	78,125		115,625
	115,625		153,125

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

	2022		2021
	£		£
Unpaid contributions due to the fund (inc. in other creditors)	0		1,151

9. Related party transactions

The company has taken advantage of the exemption available under FRS 102 section 1 ac 35 of FRS 102 to not disclose transactions with other group undertakings within a wholly owned group.

The company rents a property from a company which is controlled by key management personnel. The total rent paid in the period was £37,500 (2021: £43,750). No amount was outstanding at the year end.